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PITI
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stands for principal, interest, taxes and insurance. If you
have an "impounded" loan, then your monthly payment to the
lender includes all of these and probably includes mortgage
insurance as well. If you do not have an impounded account,
then the lender still calculates this amount and uses it as
part of determining your debt-to-income ratio. |
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BACK TO GLOSSARY |
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Simplicity
Mortgage - 6180
E. State Street, Suite #5 - Rockford, IL.
61108
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